By Suzanne Delaney, Career & Business Coach
Exploring franchising as a career alternative is a great way to keep your options open during a job search. Being able to compare self-employment to potential jobs can give you a different perspective on your job search. But how do you know where to start?
If you work with a coach we will take you through the process of clarifying your goals and identifying your strengths and then we will introduce you to several options based on those criteria. If you are working on your own it’s hard to say specifically where you should start because there are literally thousands of franchises and business opportunities out there. You should certainly use investment level as a screening tool, but remember the age old adage “you get what you pay for” – your investment will often be a reflection of the potential return. Also, make sure you look at a variety of companies and business models in order to ensure your search is comprehensive enough so you are confident with the results.
Once you know which opportunities you want to explore you will begin by talking to the franchisor in order to learn more about their business model. Once you’ve made contact with the franchise they should help guide you through the process of evaluating their opportunity. But be mindful that they will also be evaluating you to make sure you are a good fit for them.
The process can have several aspects, and individual franchises may approach it differently. In addition to having an in-depth discussion or presentation on the business model you will receive a Franchise Disclosure Document (if it is a franchise and not a business or licensing opportunity). You may have the opportunity to visit their corporate office for a “discovery day”, and you will have the opportunity to talk to franchisees who have already invested in the franchise. All of these activities will allow you to gather the information you will need to evaluate the different businesses.
An important note: beware of self-sabotage! Make sure you base your process on facts and remain objective. A perception is only that unless you have the data to back it up. So be sure to confirm your perceptions before jumping into something or dismissing it.
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Interested in learning more about franchising?
“Recession Resistant Franchises”
Date: Tuesday, November 10
Time: 1pm EST or 7:30pm EST
Webinar: A common concern heard from clients is that it cannot be a good time to start a business because of the economy. But the fact is there are many business models that are doing well because their services or products are necessary, whether it’s a good economy or a bad economy.There are also business models that offer less expensive products and services and are therefore doing BETTER in this economic climate. So if self-employment is an option that you are seriously considering, now can be a very good time take advantage of a recession resistant franchise or business opportunity.
Register for session: 1pm EST
Register for session: 7:30pm EST
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About Suzanne Delaney
Suzanne helps individuals looking to become entrepreneurs by introducing them to a variety of franchise and similar system based business opportunities. She coaches them through the evaluation process to ensure they find the business that fits their goals, needs, and expectations. She also provides business coaching services to both franchise and independent businesses that are looking to strengthen or grow the value of their business through a proven process of awareness, education, and accountability.
